Shares of Nio soar more than 20% as EV deliveries more than double in April
Nio’s ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China.
Getty Images | Getty Images News | Getty Images
Shares of Chinese electric vehicle maker Nio Inc jumped 20% Thursday after its vehicle deliveries more than doubled in April.
Hong Kong-listed shares of the company jumped as much as 23% to 44.20 Hong Kong dollars, touching their highest level in over six weeks. Nio shares also helped boost the broader Hang Seng index, which jumped 2% by midday trading.
Nio said it delivered 15,620 vehicles in April, a 134.6% year-on-year increase.
“The deliveries consisted of 8,817 premium smart electric SUVs, and 6,803 premium smart electric sedans,” the company said in a statement on Wednesday.
Nio has delivered 45,673 vehicles so far this year, 21.2% higher than the same period a year earlier.
The Chinese EV maker has also been expanding its battery swap partnerships as it seeks to get an edge on the infrastructure side of the EV ecosystem. Efforts like these are aimed at relieving consumers’ anxiety about driving range.
Other Chinese EV makers including Li Auto, Xpeng, and BYD also reported April deliveries on Wednesday, while Li Auto was the only company to have reported lower deliveries than the previous month.
Li Auto delivered 25,787 vehicles in April, down 11% from March. Hong Kong-listed shares of the company were still 3% higher.
Xpeng said it delivered 9,393 EVs in April, up 4% from the prior month. BYD’s sales volume for EVs was 313,245 in April, up 3.6% from March’s 302,459.
Hong Kong-listed shares of Xpeng jumped 7.5%, while those of BYD added 5%%.
Price wars heat up
Chinese smartphone maker Xiaomi recently joined the fray, and launched an electric car in early April. The company priced the SU7 at about $4,000 less than Tesla’s Model 3. The company also claimed the new car would have a longer driving range.
Just last week, CEO Lei Jun said its new EV is selling better than expected, and the company hopes to break even sooner than anticipated despite selling it cheaper than Tesla’s Model 3.
— CNBC’s Evelyn Cheng contributed to this story.
People walk next to the Google Cloud logo, during the 2025 Mobile World Congress (MWC) in Barcelona, Spain, March 4, 2025.
Albert Gea | Reuters
Google Cloud announced Thursday a multi-year partnership with artificial intelligence coding startup Replit, giving the search giant fresh firepower against the coding products of rivals, including Anthropic and Cursor.
Under the partnership, Replit will expand usage of Google Cloud services, add more of Google’s models onto its platform, and support AI coding use cases for enterprise customers.
Google will continue to be Replit’s primary cloud provider.
Replit, founded nearly a decade ago, is a leader in the fast-growing AI vibe-coding space.
In September, the startup closed a $250 million funding round that almost tripled its valuation to $3 billion, and said it grew annualized revenue from $2.8 million to $150 million in less than a year.
And new data from Ramp, a fintech company that also tracks enterprise spending on its platform, found that Replit had the fastest new customer growth among software vendors. Google, meanwhile, is adding new customers and spending faster than any other company on Ramp’s platform.
Put those together, and you get a clearer picture of why both companies see opportunity.
Vibe-coding emerged as a phenomenon earlier this year after AI models became more adept at generating code using only natural language prompts, allowing users with little experience in programming to use AI to create functioning code and potentially full applications.
Anthropic announced on Tuesday that its product Claude Code hit $1 billion in run-rate revenue. The coding startup Cursor, in November, closed a funding round that valued it at $29.3 billion, while also announcing it reached $1 billion in annualized revenue.
Replit, which bills itself as an easy-to-use product for non-developers, could help drive Google Cloud adoption among enterprises, and expand the reach of its AI efforts beyond traditional engineers.
Google is riding on the momentum of its new top-scoring model, Gemini 3. Shares of Alphabet have risen more than 12% since its debut.
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